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Deutsche launches proxy inflation index
Deutsche Bank has created a proxy inflation index that seeks to mirror inflationary trends in Asia excluding Japan by using a combination of inflation in Europe, the US and Japan, and commodity exposures in food and metals.
CFTC closes $291 million commodity fraud case
The US Commodity Futures Trading Commission has ordered commodity trader Paul Eustace to pay up to $291 million in fines and restitution to customers of his Philadelphia Alternative Asset Management (PaamCo) commodity pool.
Bank monoline exposures creep up in second quarter
Second-quarter results yielded further markdowns at major dealers due to the increasing counterparty risk posed by monoline insurers.
BNP Paribas AM launches ETFs/Dow Jones offers South Korea
BNP Paribas Asset Management (AM) has launched four ETFs on the Dow Jones Stoxx Asia/Pacific 600 ex-Japan, South Korea Titans 30, Case Egypt Titans 20 and Turkey Titans 20 indexes. The ETFs will begin trading on Euronext Paris today.
RBS strengthens FX and rates exotics in Asia-Pacific
RBS has strengthened both its trading and structuring teams in Asia-Pacific with two senior appointments. Rubin Rajendram joins as head of euro and US dollar rates exotics trading and Richard Summerbell as head of currency structuring for Asia ex-Japan…
Dow Jones offers new Indian index
Dow Jones Indexes has launched the Dow Jones India Titans 30 index, which is designed to provide exposure to the 30 largest and most liquid stocks listed on the Bombay Stock exchange and the National Stock Exchange of India. The index will be licensed as…
UK regulators propose remedies for future mortgage bank recoveries
As a result of the fallout from the crisis at Northern Rock, the UK Treasury, Bank of England and Financial Services Authority have produced consultation papers with recommendations on how to deal with similar episodes in future.
Energy Risk’s Asia Awards 2008
The emerging and often illiquid nature of some of Asia’s energy markets has made them a challenging environment in which to work during the credit crunch. Despite this, there are some impressive success stories. Our Asia Awards honour seven companies…
DME sells equity stake to trading firms
The Dubai Mercantile Exchange (DME) has concluded the sale of a 20% equity stake in the exchange to six global financial institutions and energy trading firms.
MBIA results mask wider malaise
MBIA, the Armonk, New York-based monoline insurer, has reported net profits of $1.7 billion for the second quarter of 2008, compared with $211.8 million over the same period last year.
UBS commits to $18.6 billion ARS buyback
UBS has joined Citi and Merrill Lynch in agreeing to buy back auction rate securities (ARS) at par, in an offer that could affect up to $18.6 billion in securities over the next two years.
Limited oil and gas resources seen as biggest risk for NOCs
Limited oil and gas resources were identified as the highest risk issue for national oil companies (NOCs), according to a survey of NOCs by risk advisory firm Marsh.
Merrill and Citi to repurchase ARS after New York applies pressure
Citi and Merrill Lynch have agreed to repurchase billions of dollars worth of illiquid auction rate securities (ARS) being held by retail customers after threats of legal action from New York attorney general Andrew Cuomo.
FSA suffers ratings blow as Ambac regroups
Standard & Poor's has announced a negative outlook for the AAA rating of Financial Security Assurance (FSA), the New York-based monoline insurance company that is part of the Dexia Group.
Complexity and hidden risk caused the crash, says BIS
The Bank for International Settlements (BIS) blames the credit crisis on a failure to understand the risks involved in complex credit risk transfer structures set up earlier this decade, in a report published this month.
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